Rent to Own Homes in Brownsville
The below results are primarily rent to own homes in Cameron County, TX:
At the southernmost point of Texas, Brownsville has played a surprising role in several important historical and cultural events over its 160-year history. During the Civil War, Brownsville was the site of the war’s final conflict at the Battle of Palmito Ranch. At the beginning of the 20th century, the city was embroiled in a complicated racial conflict, the Brownsville Affair, that led to the dishonorable discharge of 167 African-American soldiers stationed nearby.
The city’s residents haven’t let those dark moments in history prevent progress, though, and the Brownsville urban area today is growing faster than nearly every other U.S. urban area. Part of that growth is due to the efforts of the Brownsville Economic Development, the Brownsville City Commission and the nationally recognized Brownsville Independent School District. The Port of Brownsville is also an important part of local industry, responsible for transporting the region’s significant international trade.
Buying a Home in Brownsville
Brownsville’s housing market is stable, with the current median sales price of $100,600 relatively unchanged in the past year. The average sales price rose 8.78 percent this year, climbing to $125,248. Meanwhile, available housing inventory dropped 15.74 percent to 10.7 months. Even with that dip, however, the city’s housing inventory means that it’s a buyer’s market in Brownsville. While there are a host of new homes in town, the median age of Brownsville homes is 20 years. Fifty-eight percent of those homes are owned, and 39 percent of them are rented.
Popular Neighborhoods in Brownsville
Many families, couples and retirees enjoy the privacy and convenience of Costa Del Sol in West Brownsville. The community is gated, filled with mature trees and custom homes, and it’s close to Highway 77. Those who prefer an eclectic mix of grand estates and modest ranch homes like the diversity of Rio Viejo. Rio Viejo’s Calle Jacaranda boasts beautiful homes, sprawling lawns and custom homes. Eastwood Estates grew 1.1 percent in the past year, with residents lured by the established neighborhood, shady trees and lovely ranch homes.
Buying vs. Rent to Own Homes
With Brownsville’s homes in very affordable ranges, now is the time for entry-level buyers to enter the market. Rent to own homes offer many benefits for those who want to buy a starter home or those who don’t quite have their financial arrangements ready. Renting to own gives buyers the chance to negotiate a price at today’s rates but finalize the purchase a few years down the road. Also, the financial requirements of rent to own homes are often less strict than with a traditional home purchase.
Cost of Living in Brownsville
While nearby Harlingen gets all the press for being one of the cheapest places to live in America, Brownsville is nearly as affordable. Overall, Brownsville residents can expect to pay 22 percent less on all combined living expenses than the rest of the nation. Housing is the city’s least expensive living essential, costing 46 percent of the national average. Other expenses are a little more in line with the nation. Groceries are 15 percent less expensive, healthcare is 2 percent cheaper, and transportation is 9 percent lower than the national average. Only utilities are more expensive, at just 1 percent pricier than the country’s average.
Scenically and strategically located in the Rio Grande Valley, Brownsville has many selling points. Its homes and neighborhoods provide enough variety in architecture, privacy, lot size and pricing to suit just about every lifestyle and budget. Locals can also afford bigger homes here since housing is less than half the cost of homes elsewhere. Brownsville’s economical housing also carries over to the city’s very low cost of living.
Rent to Own Realtors
Most realtors aren’t going to want to work with a client looking for a rent to own deal. The upfront profit for a realtor is minimal, and the largest chunk of the commission isn’t guaranteed – even after the contract is signed. Successful rent to own deals make the bulk of commission for realtors as far as three years in the future.
Good realtors know that if they’ve done their job qualifying and showing a buyer options that meet their tastes and budgets, a rent to own deal has a great chance of success. But good realtors are rare.
Instead of using a realtor, learn about rent to own yourself and meet with professionals in the title, mortgage and legal industries to increase your chances of success.
About Our Listings
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.